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4. Ponzi Scheme Funds.
Payment by Debtor with funds he obtained from subsequent investors in his Ponzi scheme was one involving "interest of the debtor" in property. Bailey v. Big Sky Motors, Ltd (In re Ogden), 314 F.3d 1190 (10th Cir. 2002).
1. Claim and Debt Defined.
Section 101(5) defines "claim" and section 101(12) defines "debt." To determine whether a transfer is for or on account of an antecedent debt owed by the debtor, the court must consider whether the creditor would be able to assert a claim against the estate if the payment had not been made. Alfa Mut. Fire Ins. Co.
v. Memory (In re Martin), 184 B.R. 985 (M.D. Ala. 1995), aff'd, 101 F.3d 708 (11th Cir. 1996). Baker Hughes Oilfield Operations, Inc. v. Cage (In re Ramba Inc.), 416 F.3d 394 (5th Cir. 2005), provides a comparison and contrast discussion of both the antecedent debt requirement and the contemporaneous exchange exception of section 547(c)(1) and holds that a payment by debtor to creditor/preference defendant in exchange for creditor's dismissal of it's involuntary bankruptcy proceeding against debtor was a payment of antecedent debt (being the debt that led to the filing of the involuntary petition) for purposes of section 547(b)(2).
When a debt is exposed to penalties, not when the tax return is due sets the date on which the debt is due. United States v. Pullman Constr. Indus., Inc., 210 B.R. 302 (N.D. Ill. 1997); see also Carolyn's Kitchen, Inc. v. Cybergenics Corp (In re Carolyn's Kitchen, Inc.), 209 B.R. 204 (Bankr. N.D. Tex. 1997); Hendon
v. Gen. Motors Acceptance Crop. (In re B & B Utils., Inc.), 208 B.R. 417 (Bankr. E.D. Tenn. 1997). If the debt existed before the transfer, then the debt constitutes an antecedent debt for purposes of section 547(b)(2) whether the debt is matured or unmatured. Breeden v. L.I. Bridge Fund, L.L.C. (In re Bennett
